A wallet tied to the US government moved about $1 billion in Bitcoin on Thursday, and as

By John Murray

Discussion

of now nobody has confirmed that a single coin was sold.

The move was 12,267 BTC from the seized Bitfinex-hack holdings to new, unlabeled addresses, not to an exchange. On-chain data shows a change of custody, not a sale. Still, the headline was enough to add nerves to a week where US spot Bitcoin ETFs pulled out about $485 million on Wednesday and another $244 million on Thursday, and roughly $1 billion in crypto positions were liquidated. Bitcoin dipped near $80,300 on Friday and has bounced back to around $82,000.

Today is Sunday, and weekends are when liquidity is thinnest. A put-heavy Bitcoin options expiry is also due, with puts at roughly $174 million of open interest against about $98.5 million in calls. Some traders are watching $80,400 on the downside and $83,000 on the upside. Thin books plus a scary headline is how a small move turns into a fast one.

A quick weekend checklist:

  1. Separate the facts from the story. "A wallet moved" is a fact. "The government is selling" is a guess until it's confirmed.
  2. Trade smaller on weekends. Thin liquidity means bigger slippage and sharper wicks.
  3. Know your exit before you enter. Set your stop and your size while you're calm, not while a headline is moving the chart.

That's the idea behind TradeShield: checks you set while you're calm that still hold when the market gets loud.

Stay sharp, and enjoy your Sunday.

— Spidah, Founder & CEO

Market awareness, not financial advice. Trading involves risk.